Corporate Responsibility

The Property Council has developed a corporate responsibility (CR) reporting template for the property sector. This is part of a broader Code of Practice for the property and capital markets communities. The template takes the form of a voluntary industry standard. It will integrate with the de facto global standard developed by the Global Reporting Initiative and conforms to the United Nations Global Compact's 10 principles of social responsibility. The template is also consistent with the Dow Jones Sustainability Index and the FTSE For Good reporting scheme. While there are no fiscal implications for the 2009 Federal Budget, the voluntary standard is an alternative to any mandated reporting requirement. Note the existence of the Property Council's draft template for corporate responsibility reporting and the Code of Conduct for the property investment and development sectors.